ASSESSMENT: STRATEGY REPORT
The main industry focused project for this unit entails analysing the marketing strategy for a new product(s) or service innovation of a company/brand.
Guidelines for the Marketing Strategy Report
1. Factors for new product or innovation success depends on a varying sets of market related, firm related, and product related variables. Understanding and analysing such factors for innovative successful products and services will help in developing and marketing new products and services for the today's hyper competitive and ever-changing business environment. This strategy report will concentrate on critically analysing the firm, project, product and market related factors that have contributed to a successful marketable new or innovative product or service. The core strategy analysis will be based on the Critical factors for innovation success model (Figure 3.6, page 92).
2. The strategy report is a team effort and is to be completed in groups of 3 people from the same tutorial. Team formations should be completed within week 3. If you cannot find anyone to team up with, please notify the tutor immediately and you will be assigned someone to work with. Teams will have to confirm their preferred company to the tutor by Week 4. This is a team assessment and any individual reports will NOT be allowed.
3. The first task for the team is to select a company/brand/product/service which has been successful as a new or innovative product or service in recent years. Please choose your preferred company from the following list. These companies where chosen because of their continuous innovation practices and success stories of new products and services, thus making them global leaders in their respective fields.
1. Skype 2. Apple Watch
Your team needs to now focus on a particular product or service of that company. It is neither feasible nor possible to focus on analysing all products or services that your preferred company offers. For example, let us assume the preferred company is Apple (which is not in the above list and not available for the report). It has been a market leader for a lot of innovative and new products and services such as iPad, iPhone, iPod, MacBook Air, iTunes etc. For the report the team should focus and select ONE product or service (let's say for example, iPad only) that the team thinks has been very innovative and successful and then analyse the marketing strategy for that particular product or service based on unit relevant analysis criteria. Broad generalizations and lack of focus on a particular product or services will result in lower marks.
4. The strategy report is to be submitted in two phases over the duration of the semester so that feedback is provided in Phase A to assist in the development of a superior overall strategy report in Phase B. Phase A will be worth 10% towards the unit grade and Phase B will be worth 20% towards the unit grade.
5. For clarity and evaluation purpose, we have designed a structure for the report with 5 fixed sections, which are based on the Critical factors for innovation success model (Figure 3.6, page 92). The subtopics for each of the sections are elaborated throughout the book chapters and related journal articles. Your team will need to review them in details to structure the report.
We strongly recommend you to thoroughly review the two journal articles as they provide detail elaborations on the factors for innovation success model (Figure 3.6, page 92) which will be required for the Technological and Commercial viability analysis sections. Your task will be to analyse the company in the light of these factors. Both these articles are available on VU Collaborate.
- van der Panne, G., van Beers, C., & Kleinknecht, A. (2003). Success and failure of innovation: A literature review. International Journal of Innovation Management, 7(3), 309-338.
- Berkhout, G., Hartmann, D., & Trott, P. (2010). Connecting technological capabilities with market needs using a cyclic innovation model. R&D Management, 40(5), 474 - 490.
The word limit for the whole report as well as the approximate word limit for each section of the report will be strictly enforced. Make effective use of tables and charts to portray detailed information in brief. Use appendix for any additional analysis, exhibits etc. Refer to the marking criteria for the relative weight and sub-topics for each of the major sections as well as other requirements for the report. All reports will have to follow the given format of sections. The major sections of the report will be as follows.
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Section heading
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Maximum Word count
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Phase A
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Phase B
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Product background and history
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500
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Present scenario analysis
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1000
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Technological Viability Analysis
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1000
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Commercial Viability Analysis
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1000
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Future pathways
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500
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6. The report is about strategic analysis and you should be avoiding un-necessary discussions which really do not add value to your report. The strength of any strategy analysis is based on analysing actual market information from a wide variety of impacting factors and applying relevant and established conceptual frameworks for deeper insights and understanding. Mere reporting of information without any relevant analysis will not add value to your analysis. The lecture materials and tutorial discussions will cover conceptual frameworks and theoretical considerations for your report. Phase A feedback and recommendations should be addressed and considered for Phase B.
7. While doing your research for your preferred company and product please keep in mind that you are to source credible, reliable, relevant, factual and recent information from online business news and information sources, company reports and websites, industry whitepapers, business magazines, expert opinions, marketing textbooks, academic journals and suggested additional readings as an evidence to substantiate your illustrations, thoughts and arguments. Please avoid unknown and un-reliable online websites as well as commentary and opinion from unknown and non-expert commentators and personal blogs. When evaluating sources always consider why and how is it relevant to your analysis; why and how does it matter to your analysis; and how it can add value to your analysis.
8. The complete report should include a minimum of 4 (four) references from peer-reviewed academic journals and an additional minimum of 8 (eight) references from business magazines, industry whitepapers, newspapers, credible and reliable websites and marketing textbooks to confirm the strength and quality of your work.
9. Team members are expected to make equitable contribution to the completion of the report. Teams are strongly advised to contact the lecturer/tutor at the earliest for any major issues or concerns with the team members. Team conflicts should be mitigated between the group members as it is a part of the learning process. "Free-riders" will be dealt on a case by case basis and will have a negative impact on his/her assessment grade.
I have given you all the useful information for assignment.
This assignments have 2 parts PHASE A and PHASE B.
Please check the marking criteria because this teacher is very specific about it. you can start PHASE B after thursday as well we will need it later but still sending you all details in same document. plz let me know if theres any prob.